Her interest Chevron For hydrocarbon investigations on two marine plots south of Crete is a highly positive development with energy, economic and national importance, the Deputy Minister emphasized today (27.3.2025). Environmental and energyNikos Tsafos, at a conference.
In particular, the Deputy Minister of Environment and Energy said, about Chevron, the following: “First, it is not easy to enter a company into a new market, because the investor must first believe that he can get away with and invest. There has been a great effort to get here. Natural gas is still the Achilles’ heel of Europe and we depend on imports. So it goes without saying that if we have useful deposits, we must exploit them. “
At the same time, Chevron seems to recognize national positions, at the same time that Libya also shows that it has a similar approach. All of this is perfectly positive and constitute a big leap for the country, Mr Tsafos added.
How will the energy cost be reduced
Reducing energy costs is one of the highest priorities of the RIS and passes through three specific factors.
The first variable is its wholesale price and regional dimension, as our country is strongly interconnected with the rest of SE Europe.
The second variable is the cost of system: “Until the retail there is a lot of elements and we can intervene in some. The islands and interconnections are a high cost and as we interconnect them, the more it will decrease. Network losses are still a matter and we have taken action, and we will see what we can still do.
If each of these elements that affect the cost is slightly reduced, then the cumulative result will be important, “Mr Tsafos estimates.
Finally, the third variable are these consumer groups. “We took steps for farmers, industry and vulnerable consumers. Especially in the case of the latter, I think we should see it again because there are high rates of energy poverty in the country, “he commented.
Direct measures in view of summer for SE Europe
He stressed that last year’s situation and the mini energy crisis in SE Europe have many structural characteristics. It is indicative that many stations and connections have come out in Europe at that time, adversely affecting developments. At the same time, international interconnections were not used to the fullest and if the 70% of the EU demanded, then there would be much more capacity.
Also, when last year’s crisis began, there was no mechanism for coordination and joint actions between the states of the region: “We made a diagnosis, that we cannot change market structural elements, but small things that have caused distortions we can improve. For example, in 2022 there were countries that increased the capacity in links above the target because it needed. “
In the light of the foregoing, Mr Tsafos said that there should be a framework for immediate implementation to normalize any new crisis at this time the setting up of the working group with the countries of the region and Brussels, and beyond this RIS is finding mobility to prevent similar crisis. “We are not sitting in touch and waiting for the Task Force. We send the message that measures should be taken in the face of summer. Brussels fully understand it, “he commented.